Bloomberg:
- Nippon Steel Corp., the world’s third-largest steelmaker, will probably report a 3.8% drop in second-half profit on higher raw material costs and a decline in exports.
China Daily:
- Plantronics Inc.(PLT), which makes computer and communications headsets, opened its first manufacturing plant in China yesterday.
DigiTimes:
- Quanta Computer will give back to Dell Inc.(DELL) 1.5% of its 2006 revenue from the personal computer maker as a condition of securing 2007 orders from Dell.
Sydney Morning Herald:
- James Packer is part of a group of investors led by Nelson Peltz who have built a 5.4% stake in HJ Heinz(HNZ).
Reuters:
- Cargill Inc., the largest US agriculture company, will close seven meat processing plants on May 1 to allow workers to participate in immigration rallies around the US.
Late Buy/Sell Recommendations
- None of note
Night Trading
Asian Indices are +.25% to +.75% on average.
S&P 500 indicated -.02%.
NASDAQ 100 indicated +.04%.
Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Before the Bell CNBC Video(bottom right)
Global Commentary
Asian Indices
European Indices
Top 20 Business Stories
In Play
Bond Ticker
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
- (AMG)/1.27
- (ATI)/.70
- (AKAM)/.16
- (ABK)/1.82
- (AHC)/4.79
- (AMT)/.00
- (ABC)/.54
- (BUD)/.56
- (AV)/.12
- (BHI)/.79
- (BDX)/.77
- (BIIB)/.46
- (CD)/.14
- (CTX)/3.11
- (CL)/.66
- (COP)/2.35
- (EXC)/.70
- (ESRX)/.70
- (FCL)/.50
- (HAR)/.98
- (INSP)/.05
- (MXIM)/.45
- (MNST)/.27
- (NSC)/.67
- (PEP)/.58
- (PX)/.65
- (PHM)/.96
- (COL)/.63
- (RDC)/.53
- (SOHU)/.15
- (TROW)/.82
- (TIN)/.49
- (TRID)/.16
- (WY)/.84
- (XLNX)/.28
- (ZMH)/.81
Upcoming Splits
- (RSP) 4-for-1
- (TS) 5-for-1
Economic Releases
8:30 am EST
- Durable Goods Orders for March are estimated to rise 1.8% versus a 2.7% gain in February.
- Durables Ex Transportation for March are estimated to rise 1.0% versus a 1.2% decline in February.
10:00 am EST
- New Home Sales for March are estimated to rise to 1110K versus 1080K in February.
10:30 am EST
- Bloomberg consensus estimates call for a weekly crude drawdown of 600,000 barrels. Gasoline inventories are estimated to fall 3,000,000 barrels, and distillate supplies are expected to decrease by 1,800,000 barrels.
2:00 pm EST
- Fed’s Beige Book
BOTTOM LINE: Asian indices are higher, boosted by technology stocks in the region. I expect US equities to open modestly higher and to fade into the afternoon, finishing mixed. The Portfolio is 25% net long heading into the day.
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